最新なIMA CMA-Strategic-Financial-Management問題集（125題）、真実試験の問題を全部にカバー！

質問 1：
Marlow Company s partial balance sheet indicated the following.

A. 1.58
B. 1.96
C. 0.51
D. 2.08
正解：A

質問 2：
London Corporation has in the following cost structure for two of its product.

Assume that me current sales level is 15,000 units of Product A and 5,000 units of Product B Using cost-volume-profit analysis which of the following courses of action would maximize profit in the short term?
Assume that fixed costs are sunk costs in the short term.
A. Continue to make and sell both Product A and Product B
B. Discontinue making and selling Doth products
C. Continue to make and sell Product A only.
D. Continue to make and sell Product B only
正解：C

質問 3：
The best discount rate to the use for evaluate of investment opportunities is the
A. risk-free interest rate
B. average market interest rate
C. cost of the company's debt
D. opportunity cost of capital
正解：D

質問 4：
Explain the impact of a sales price adjustment on AMI's operating income if AMI' s operating leverage is higher than that of other companies in its market.
Essay
Food Depot Ltd, (FDL) is a privately-held company that provides catering services to airlines and operates several restaurant chains including fast food, casual dining, and fine dining restaurants, FDL has been profitable in recent years and has a very strong cash position. FDL's newest division. Food_TO-Go is an online meal ordering and delivery platform acquired by FDL two year ago.
In 20X7, sales for the entire company were $1 billion, with 50% of the business coming from the Airline Catering division. FDL is the country 's leading airline catering services provider and control 60% of the market share. However, the outlook of the airline catering industry is gloomy. The compound annual growth rate of the industry for the past five years was only 0.5% as airline networks have increasingly dropped catering on short domestic flights.
The Food-To-division only contribution 5% of FDL's total sales in 20X7 and is far behind in competing for marketing for market share of the online meal ordering and delivery industry, it is estimated that Food-To-Go's sales were only 20% of the industry leader's sales. However, the outlook for the online meal ordering and delivery services industry is bright. The compound annual growth rate of the industry since it started three years ago was 50%. It is estimated the rapid growth of the industry will continue in the foreseeable future.
Susan Willey, the head of Food-To-Go, does not agree that the Airline Catering division is the best-performing division in the company. Wiley argues that ber division bad the highest ROI in 20X7, and it deserves more capital finding. FDL's requested rate of return is 12%. The selected financial data for the Airline Catering division and Food-To-Go division in 20X7 are as follow (in $ millions)

正解：
See the explanation for the answer.
Explanation
If the company win adjust the selling price that is if it reduces me profit margin will decrease as more of its costs are fixed rather than variable in nature hence it has greater sensitivity to increase in sales price.

質問 5：
A manufacturing company is reviewing the budget for one of its component parts for next year based on the need for 5.000 units.

The company receives a bid from a supplier offering lo provide (lie needed component for a price of $115 per unit The company is deciding whether to make or buy the component What decision should the firm make if (1) the fixed facilities costs can be avoided or (2) if the fixed facilities costs cannot be avoided If purchasing from the supplier?
A. (1) Buy; (2) Make
B. (1) Make; (2) Make
C. (1) Buy; (2) Buy
D. (1) Make; (2) Buy
正解：B

質問 6：
The production process of a company s main product yields a by-product Production costs or $700,000 are incurred during this process and $300,000 m additional costs are incurred to finalize the main product. The by-product can be sold for $200 000 without further processing A manager proposed the conversion of the by-product into another product that would cost $100,000 and generate revenue of $250,000. When deciding on this proposal the company should
A. treat the $100,000 conversion cost as the marginal cost 1o produce the new product
B. select an approbate cost allocation method to allocate the $1 100 000 joint costs
C. evaluate whether other nonfinancial factors outweigh the Si 50.000 in incremental income
D. ignore the $200 000 sales revenue for the by-product because it Is irrelevant
正解：A

質問 7：
A management accountant overheard the company's procurement manager discussing a kickback payment for one of the company s recent projects. The procurement manager promised to pay a share to the other person II the arrangement was kept confidential According to the IMA Statement of Ethical Professional Practice which one of the following is the most appropriate action for the management accountant to take?
A. Take no action since the incident is not related to the accounting department
B. Report the information directly to a nigh-level company executive since it is a serious matter
C. Call the company's ethics helpline and report the matter anonymously
D. Discuss the incident with his or her own attorney and consider disassociating from the company
正解：B

質問 8：
As the number of stocks in a portfolio increases, unsystematic risk
A. decreases and systematic risk does not change
B. decreases and systematic risk decreases
C. increases, and systematic risk does not change
D. increases, and systematic risk increases
正解：A

質問 9：
SSA inc. issues 4% bonds with a lace value of $500,000 when the market rate of interest is 3% for similar bonds. The bonds mature in 10 years, and pay interest every six months. Which one of the following is closest to the amount of cash SSA will receive upon issued.
A. $543,000
B. $505,000
C. $500,000
D. $459,000
正解：A